No penalty for taxpayers who declared bank accounts by paper or electronically.

Approximately 52,000 taxpayers have complied with the legal requirement to open and declare their bank accounts on the e-Filing electronic portal of the Tax Administration. Approximately 3,000 others have made the declaration through the “My Affairs” module, or by submitting the data in hard copy (by letter) to the Regional Tax Directorates. According to the legal provision, this obligation applies in total to approximately 55,000 taxpayers, which include:

• individual taxpayers who are traders, registered for value-added tax;
• legal entities that are taxpayers, regardless of the turnover they generate;
• Nonprofit organizations registered with the tax authority.

Only currently registered natural person traders who are not registered for value-added tax remain exempt from this obligation. If these entities register for Value Added Tax at a later date, they are then required to open and declare the bank account with the Tax Administration through their electronic filing account on e-filing. We remind new taxpayers that they are required to open the business/organization's bank account no later than 20 calendar days from the day after their registration with the Business Registration Authority/Tax Administration and to declare it in the same manner to the Tax Administration. In the event of non-compliance with the aforementioned tax obligation, Law No. 31/2019 “On Certain Amendments to Law No. 9920, dated May 19, 2008, “On Tax Procedures in the Republic of Albania,”" as amended, provides for penalties for taxpayers. The Tax Administration thanks taxpayers who have correctly complied with this legal obligation, and assures that no penalties will be imposed without first verifying all legal filing methods, both paper and electronic. Source: General Directorate of Taxes.